I have read that public finance investment banking base salaries are similar but the bonuses blow in comparison. Can anyone give me an idea of what the bonuses are like?
| +273 | Earliest you can get fired | 58 | 1d |
| +258 | Investment Banking is Divine | 40 | 1d |
| +219 | Another $115bn Mega deal for these banks. Congrats! | 45 | 1d |
| +216 | US 2027 SA IB worried about background check | 53 | 1d |
| +206 | Analyst: Why is UBS IB doing worse than peers?, UBS CFO: No Comment | 41 | 2d |
| +133 | Is UBS really that bad? | 39 | 3h |
| +40 | Is Houston SA 28 recruiting already over? | 34 | 22h |
| +27 | FIG Pigeonholes you - is it true? | 8 | 1d |
| +27 | 2026-27 IB Energy Top Banks | 8 | 1d |
| +25 | How do you manage nerves in IB technical interviews? | 7 | 5h |
Career Resources
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
Public Finance Comp--Got a guess for the senior level? (Originally Posted: 01/28/2011)
So most of what I have read says PubFin pay is lower at the analyst level, with lower base and bonus--looks like $55k base with 15-30% bonus is roughly standard. Does anyone have any clarity on pay structure moving forward?
It is clear that this area of IB is a lower margin business, but with solid deal flow the biz can still make $.
Here is what I am wondering:
What would a 2nd/3rd year analyst base & bonus look like?
What does the Associate comp look like?
And most importantly, what do VPs and MDs pull in?
I know we are not talking mils, but is it reasonable to think an Associate will make $150k, a VP will make $300k and an MD $600k?
Would these numbers be conservative, aggressive, or in-line?
I think you numbers are way off. At a BB it's 10-15% lower for analysts and associates, VPs maybe 350-500, SVP/Director 700-1MM, MD 1-3MM. Analysts there were 70+10+ maybe 25-35 bonus first year. Hours are much better.
Bump
Public Finance bonus (Originally Posted: 11/16/2009)
I recently signed with a top public finance division. Base is 70, signing is 10. What can I expect in the way of the bonus range?
Public finance bonuses (Originally Posted: 12/08/2009)
Hey guys. I've seen a few posts on this, but I'm wondering what a public finance analyst at a bb sees in bonus every year. I've heard some say comp is 80-90% of ibd, others have said it's nearly on par, some have said it's similar to corporate banking bonuses. All I know is that pubfin analysts make 70k base and a 10k sign on. Any ideas?
$25-50mm for the analyst/associate range at many of the larger banks (max 50% of base)... I've heard that some of the smaller regional banks/firms hosed their employees in the $10-20mm range over the last couple years. Typical bonus is 50-75% of base for VP and up, assuming you hit revenue targets...
2010 Public Finance Bonus : 3 months of unlimited Monthly Metrocard.
Public Finance Bonus (Originally Posted: 03/03/2011)
Hello,
Does anyone have figures on from Public Finance bonuses in the last two years. 2009 and 2010. If any 2008 numbers, please share.
Public Finance / Munis Compensation? (Originally Posted: 11/29/2006)
Anybody here know what compensation is like for Public Finance at the associate level? I'm also interested in culture and hours as well. Thanks!
Do you have an offer? BB or MM?
$25mm-$50mm for the analyst/associate range? That's it? I expected to be able to buy at least 4 island and 5 vacation homes after my first year.
As someone who owns 4 islands and 5 vacation homes, I can confirm that $25mm-$50mm is pocket change.
about tree fiddy
i think u get a subway card with .10 in it so u can add in the 4.90 for a FOOTLONG
Bump
depends how soon you can transfer to IB
Anyone have any insight? I apprecite it.
The compensation for PF for analyst and associates in terms of base salary is in line with corporate finance. The bonuses at this level and for higher levels with be lower than your corporate finance/M&A colleagues, with Analysts getting around 50% of base and Associates getting around 75% of base for the first year.
How much easier is getting into Public Finance than IBD? I am not trying to get into a BB Public Finance dept, something like Piper Jaffray because it will be in a really small midwest city.
Guys, that is just mean. I bet they at LEAST get a $1000 bonus...that would be at the high end though.
any serious comments?
That is great info---thanks. I always see PubFin postings on here but few are answered, so this clarity is awesome. I know that the pay at BBs varies much less from corporate to public, but I am thinking this difference is more significant at muni-specialized IBs, because the funds for comp are different.
Anyone have any info on comp excluding BBs?
haha - sorry... I'm so used to knocking out 'mm' in emails today that I wasn't even thinking... let me rephrase - $25-50k!! ha
This is true even at BBs and EBs in their analyst programs?
but they bang your wives and girlfriends while you're at the office on saturday night...gotta stick up for the little guys
Bump
Bump. Anyone?
Anyone else?
Culture is definitely more laid back than corporate finance/M&A. (I have been in PF and corporate finance/M&A)
Really? Moone has any idea?
To be helpful, having worked in public finance at a BB, bonus is in line with every other banking/markets group at the analyst level.
yeah its true, most definitely. the culture at the BBs is definitely consistent in groups, in the sense that you are at the same bank in the investment banking group, its just your hours in public finance will be a bit better. we can talk more if you are interested. i know a public finance training program that could be helpful.
Read Bloomberg Markets January article on some MD's from BoA in public finance who were convicted of fraud. The article mentions the bonus size for a couple of these guys (although these figures might be off because they were the result of illegal activities), as well as the structure of revenue sharing agreements, etc.
I've heard from a few people that at the lower levels it is slightly less if not on-par with traditional IBD bonus ranges
Would you mind sharing the PF training program with me as well? I'd appreciate it!
What's the difference between "80 - 90% of ibd" and "nearly on par with ibd"?
Cool thanks.
Signing bonus of $325k a guarantee of $1.15M in eight months, and 10% of revenue above $9M--in 1998. I would assume that the bank offered this and did not expect any illegal work. The $1M and $1.2M bonuses were probably the result of that...
Ignore the "nearly". Thanks for the incredibly useless comment!
I was thinking the same thing as rrrrrr01 though. That's probably what has distracted everyone from providing answers you dimwit.
Aut maiores expedita accusamus. Dolorum tenetur quo accusamus sed quo consequatur nisi. Molestiae omnis maxime rerum. Ipsum dolorem asperiores possimus ut consectetur et. Sed facilis ut et quisquam nam voluptatem aliquam. Quae qui occaecati ut nobis delectus.
Asperiores ea impedit ipsa sapiente. Nostrum vitae ipsum reiciendis earum dignissimos non. Quae explicabo inventore nesciunt atque. Officiis illo doloribus harum tempora excepturi.
Qui ut id fuga nisi. Ratione sunt praesentium asperiores tenetur sit.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Itaque aperiam voluptatibus nisi id distinctio maxime. Eaque perspiciatis exercitationem aliquam voluptates. Aperiam non rerum quo cumque sunt. Voluptas distinctio velit quisquam neque quaerat veniam.
In qui perferendis modi quibusdam. Provident hic soluta aspernatur. Sint hic consequatur ipsa ipsa consequatur non mollitia deserunt.
Est et enim officiis explicabo eveniet sapiente. Dolore in impedit cum alias quia. Ipsa autem reprehenderit laboriosam. Nemo et velit ut maxime voluptas temporibus. Magni doloribus odit voluptatibus magnam sint architecto natus.
Libero illo aliquam rerum dolorem. Aperiam corrupti dolor et fugiat sed sint rerum qui. Qui hic et possimus. Laborum et explicabo aut non neque numquam voluptatum animi.